The World Employment Confederation is the voice of the employment industry at global level, representing labour market enablers in 50 countries and 7 of the largest international workforce solutions companies.

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Thursday 29 November 2018 (11:52)

WEC Smart Regulation Index counts three new countries in

Mexico, Chile and Colombia are now included in the World Employment Confederationâs Smart Regulation Index. 39 out of our 50 national federations currently contribute to building this tool which assesses how smart and appropriate regulation on the employment industry is in different countries around the world.

The Smart Regulation Index (SRI) is based on the responses provided by the members of the World Employment Confederation (WEC) to a survey assessing four indicators: the right of establishment, the right to provide services and contracts, the right to negotiate and the right to contribute to labour market policies.

Mexico scores relatively high in the index, making it onto rank 17 out of 39 countries. On three out of the four indicators measured, Mexico stands above the global average and it scores perfectly regarding regulation on establishing a private employment agency.

About the Smart Regulation Index

Developed in 2011 together with the Boston Consulting Group, and regularly updated since then, the SRI confirms that adopting appropriate regulation on the employment industry helps labour markets to be more efficient and thus helps countries to become more competitive.

Indeed, smart regulation on the employment industry leads to higher job creation, increases labour market participation, lowers youth unemployment levels and overall improves the efficiency of labour markets as corroborated by the strong positive correlation between the SRI and the Competitive Labour Market Indicator by the World Economic Forum.